Arrowstreet Capital Limited Partnership Acquires 74,671 Shares of PTC Inc. $PTC

Arrowstreet Capital Limited Partnership increased its holdings in PTC Inc. (NASDAQ:PTC) by 49.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 224,609 shares of the technology company’s stock after buying an additional 74,671 shares during the period. Arrowstreet Capital Limited Partnership owned 0.19% of PTC worth $38,709,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PTC. T. Rowe Price Investment Management Inc. lifted its position in shares of PTC by 17.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company’s stock worth $3,147,478,000 after acquiring an additional 3,048,311 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of PTC by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock valued at $2,541,838,000 after purchasing an additional 416,791 shares during the period. Geode Capital Management LLC lifted its holdings in PTC by 8.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,415,785 shares of the technology company’s stock worth $586,438,000 after purchasing an additional 265,558 shares in the last quarter. Wellington Management Group LLP boosted its stake in PTC by 1.9% in the 1st quarter. Wellington Management Group LLP now owns 2,370,972 shares of the technology company’s stock worth $367,382,000 after purchasing an additional 44,961 shares during the period. Finally, Nuveen LLC purchased a new position in PTC during the 1st quarter valued at about $241,789,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird set a $255.00 price target on shares of PTC in a report on Wednesday, October 22nd. Wall Street Zen cut shares of PTC from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings restated a “buy (b-)” rating on shares of PTC in a research report on Monday. Piper Sandler decreased their price target on shares of PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Finally, BMO Capital Markets dropped their price objective on PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.92.

PTC Trading Down 2.8%

NASDAQ PTC opened at $173.52 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.12 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $189.69 and its two-hundred day simple moving average is $191.59. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $219.69. The company has a market capitalization of $20.73 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 2.17 and a beta of 1.03.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. The firm had revenue of $1.76 billion for the quarter. PTC had a return on equity of 23.03% and a net margin of 27.05%. Research analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

PTC Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.